Suchergebnisse

For many small and medium enterprises (SMEs), access to financing is a challenge. The World Bank Group estimates the finance gap among formal micro, small, and medium enterprises (MSMEs) in developing economies to be eighteen percent of GDP. This finance gap is of particular concern because SMEs are a leading driver of trade, economic development, and employment. Development finance institutions can play an active role by fostering initiatives, such as supply chain finance (SCF), that can for instance, drive local economic growth, increase financial inclusion, and support the closing of market gaps. This guidebook deals with development banks on a national and multinational level. Similarly, some of the discussed goals and roles can also apply to central banks, government agencies, or other public entities.

Rwanda has made unsurmountable strides along its development path. Rwanda has placed among the world's fastest-growing economies, climbing the development ladder from second-poorest in the world in 1994 to sit ahead of nineteen other countries. Today, job creation lies at the heart of Rwanda's development challenge. The government of Rwanda (GoR) recognizes the urgency of creating new jobs. The new thirty-year Vision for the period up to 2050, which is currently being finalized, elaborates the country's long-term development goals. The core of transformation for prosperity is developing high-value and competitive sectors, to transition the population and economy from subsistence agriculture toward industry and high-skilled services. The purpose of the Rwanda country privates sector diagnostic (CPSD) is to identify market opportunities and constraints in sectors that advance the country's development objectives. By assessing the landscape of private sector investment in the country, the CPSD identifies specific constraints to private sector investment and productivity growth, concrete opportunities that could materialize in the short term, and the reforms that will enable this materialization. It then discusses how specific actions by the public sector in collaboration with the private sector by filling gaps in public investment, reforming regulations, and addressing market failures could unleash sectors' private investment potential.

As one of the most rapidly changing corporate governance environments in the world, Europe represents a microcosm of the exciting innovation happening in the corporate governance arena, ranging from new approaches to board-level corporate governance practices to changes in regulatory requirements at the legislative level. Representing a diverse mix of nations at various stages of economic development and market maturity, the European Union as an entity is demonstrating the broad value of a prioritized focus on corporate governance while accounting for individual country and company circumstances. This publication, a guide to Corporate Governance practices in the European Union, offers an overview of the changes taking place across the EU's corporate governance landscape. It provides a focused examination of specific regulations and practices as well as a frank assessment of the challenges that remain. The value of this publication is that it examines the issues from all sides. It assesses the steps forward and steps backward, the progress made and the gaps that remain, presenting the sometimes widely varying perspectives of owners, boards, management, and other stakeholders to create a complete picture of the European corporate governance environment.

This report provides a baseline institutional and regulatory assessment of the oil and gas, mining (including jade and gemstones) and the hydropower sectors in Myanmar. As such the report is an input to Extractive Industries Transparency Initiative (EITI) in Myanmar. However, it is not exhaustive with respect to all the sectors that may be considered under a scoping study for EITI .This report is the first in-depth study of the context within which EITI will be implemented in Myanmar, and can inform broader efforts to improve natural resource governance. This includes support for developing natural resource policy, law and regulations, fiscal regime design, tax administration (including support to the Large Tax Payers Office on the extractive industries sector), license management and cadaster systems, community development agreements, strategic environmental and social mitigation and management, training needs assessments and capacity building. The follow-up to this baseline assessment is a scoping study, which will determine which companies should be included within the first MEITI report and what payment flows they will need to report on.

In the fall of 2008, the Moroccan microfinance sector underwent what in economics is referred to as a Minsky moment, the sudden realization that the market has overshot and that the good times are coming to an end. In this particular case, the Minsky moment was a specific event – the private circulation of an IFC study that found extensive problems with the portfolios of the country's four largest Microfinance Institutions (MFIs), and one in particular – Zakoura. This study picks up from Morocco's Minsky moment. The MFIs at the time were beginning to see unequivocal signs that the market was shifting. The lead-up to this moment has been well documented: the reckless pursuit of growth, fed by an equally reckless influx of funding, both foreign and domestic, the high rate of multiple lending, poor lending standards and equally poor back-office and management information systems (MIS), and poor governance – all have been noted as causes of the crisis. While this study is meant to cover the full Moroccan microfinance sector, due to constraints of time and availability of data, its primary focus is on the three largest MFIs in Morocco. This report is organized into three key sections: 1) a review of the main drivers and factors evident during the course of the Moroccan microfinance crisis (2008-2011); 2) an examination of the key responses taken by the MFIs during the course of the crisis; and 3) a review of government actions and other market-level changes that affected the nature and trajectory of the crisis. The authors close with a look at the future prospects for microfinance in Morocco.